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Dec 31, 2012
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health care tax. the only thing you left out of that wrap is just like greece. >> the first time an attorney general to be held in contempt. >> and the vote that the house republicans want is a political vote. >> they played a bad hand, right now it's going to be a witch hunt. if you get more then it becomes intervention. >> the water has just now breached over the sand dunes. >> hurricane sandy a superstorm meteorologists are calling a once in a lifetime occurrence. the whole coast is devastated. >> the number of ambulances to move these children is remarkable. >> and lost homes in many forms-- ♪ ♪ >> andrew breitbart died this morning, he was 43. he was a publisher, an activist and a commentator, but that says almost nothing about this force of nature. he was a big kid who treated his opponents like humans. it was never about people, it was always, always about principles. . >> the u.s. has just evacuated all personnel from benghazi to tripoli. >> this was something that was a concerted effort,
health care tax. the only thing you left out of that wrap is just like greece. >> the first time an attorney general to be held in contempt. >> and the vote that the house republicans want is a political vote. >> they played a bad hand, right now it's going to be a witch hunt. if you get more then it becomes intervention. >> the water has just now breached over the sand dunes. >> hurricane sandy a superstorm meteorologists are calling a once in a lifetime...
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Dec 28, 2012
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pass the obama tax cut and reinstate the sequester cuts to things like he likes like the national institute of health and cut the defense budget. put republicans in the corner to say you want to bring a bill to the floor? be my guest. am i right? >> bob: my, you are cynical. keep in mind, they said, boehner said he wants to go to the senate. under the constitution, you cannot start a bill on taxes in the senate. has to come from the house. there is a 48-hour limit because you have to have the house of representatives look at it. i think the deal is cut. they will get legislation and vote on it late monday night. >> andrea: do you think a deal is cut? i talk to people and they say no deal. >> eric: there is no deal. they are saying no deal. president obama coming back to d.c. to fix what he broke in the first place. two solid years to deal with it. this is a gimmick, the flying back from hawaii to do this. nothing going over the fiscal cliff. let the tax cut expire. come back in, offer the tax cuts for people under 250. call them obama cuts and get it going. if you are in congress. you make
pass the obama tax cut and reinstate the sequester cuts to things like he likes like the national institute of health and cut the defense budget. put republicans in the corner to say you want to bring a bill to the floor? be my guest. am i right? >> bob: my, you are cynical. keep in mind, they said, boehner said he wants to go to the senate. under the constitution, you cannot start a bill on taxes in the senate. has to come from the house. there is a 48-hour limit because you have to have...
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Dec 30, 2012
12/12
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there was a point when obama moved from $250,000 threshold on taxes to 400. boehner put tax rates. >> boehner said for the first time republicans would be willing to support. the question is, how much his troops would be backing him raising tax rates on those over $1 million. which for given the republican fervent opposition to any raise in tax rates, that was a significant step, but then it stopped. >> during that time about a week where the white house and speaker boehner's office was not criticizing each other. lines of communication were open. since then, it's gone south. >> does it seem like a dull story because it's an artificial crisis created by congress itself. they could solve this thing in ten minutes with ample compromise on both sides. while the country is following this news, it's not a breathless anticipation. >> the only thing that is starting to sink in with people, howie, where i think it is getting more public attention is that people are now realizing that their paychecks really will be a lot lower very soon if nothing gets done. therefore
there was a point when obama moved from $250,000 threshold on taxes to 400. boehner put tax rates. >> boehner said for the first time republicans would be willing to support. the question is, how much his troops would be backing him raising tax rates on those over $1 million. which for given the republican fervent opposition to any raise in tax rates, that was a significant step, but then it stopped. >> during that time about a week where the white house and speaker boehner's office...
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Dec 28, 2012
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in january because of obama care. >> okay. >> taxes on capital gains. >> let me ask you this though, grover. i can imagine you wear it as a badge of honor to this the senate majority leader on the floor of the senate invoking your name in frustration because there are people on the republican side who are, you know, following your -- your lead to not raise taxes, but let's face it. you were in -- you were imposing this no higher tax in a different era, at a different time, in a different part of the economic cycle. aren't we at a point now economically where there has to be some mechanism of revenue raising to try and solve the debt crisis? yes, i know you're going to talk about spending cuts. that's important as well, but you've got to balance the budget in some way, and it's got to include some form of a tax increase, not just on million dollar earners, agreed? >> no. you have it exactly wrong. if you put tax increases on the table, you never get spending all obama's done for the last four years is clamor for higher taxes to spend more money. the only time we've ever beat him back
in january because of obama care. >> okay. >> taxes on capital gains. >> let me ask you this though, grover. i can imagine you wear it as a badge of honor to this the senate majority leader on the floor of the senate invoking your name in frustration because there are people on the republican side who are, you know, following your -- your lead to not raise taxes, but let's face it. you were in -- you were imposing this no higher tax in a different era, at a different time, in...
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Jan 1, 2013
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. >> it shouldn't be obamacare but obama healthcare tax. >> too broad of federal power. >> you left out of that rant "just like greece." >> the first time for attorney general to be held in contempt. >> this is issa with a political move. >> this will be a witch hunt. if you get more it's an intervention. >> the water just now breaching over the sand dunes. >> hurricane sandy, superstorm that meteorologists call a once in a lifetime occurrence. >> the whole coast has been devastated. >> the number of ambulances for people who showed up to move the children is remarkable. >> the loss is emotional and memories. loss comes in many forms. ♪ ♪ notice ♪ ♪ ♪ ♪ >> greg: andrew breitbart died this morning at 43. publisher, activist and commentator. but that says nothing about this force of nature. he was a big kid who treated his opponents like humans. never about people. it was always about principles. >> the u.s. has just evacuated all personnel from benghazi to tripoli. >> this was a concerted effort, well organized. heavily armed. >> the american president and secretary of state
. >> it shouldn't be obamacare but obama healthcare tax. >> too broad of federal power. >> you left out of that rant "just like greece." >> the first time for attorney general to be held in contempt. >> this is issa with a political move. >> this will be a witch hunt. if you get more it's an intervention. >> the water just now breaching over the sand dunes. >> hurricane sandy, superstorm that meteorologists call a once in a lifetime...
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Dec 24, 2012
12/12
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the country faces massive mandatory tax increases and federal spending cuts on january 1st. meanwhile one republican congressman says president obama wants america to go over that cliff >> it is unclear when the president will return from hawaii. staffers for both sides are expected to be communicating over the next few days >> egypt's leading opposition party says it plans to appeal the results of yesterday's constitutional referendum. preliminary results show the new constitution passed with 64- percent of the vote. but opponents say it limits their rights -- and is not legitimate because the voting procedure didn't follow guidelines. parliamentary elections are scheduled in two months -- and the opposition hopes to present a united front by then. some 68-percent of egyptians did not vote in the referendum. >> former president george h. w. bush is showing signs of recovery but may not be home to celebrate christmas with his family. he has been hospitalized since november with a brown tide is related cough. in a statement from hospital his doctors are optimistic he will mak
the country faces massive mandatory tax increases and federal spending cuts on january 1st. meanwhile one republican congressman says president obama wants america to go over that cliff >> it is unclear when the president will return from hawaii. staffers for both sides are expected to be communicating over the next few days >> egypt's leading opposition party says it plans to appeal the results of yesterday's constitutional referendum. preliminary results show the new constitution...
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Dec 24, 2012
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and the third part is $1 trillion in obama's taxes. that's the obama care taxes they hid from you because they're all scheduled to come in after he got safely elected. >> let's go back to the bush-era tax cuts. for you, given your position, that's really what we want to focus on here. you make the point that democrats could have voted before when they had super majorities or big majoritiemajo and that's a fair point. but in part thanks to you, voting for tax increases is a political death for republicans and democrats. that brings me to my next question. i've talked to republicans and democrats who think we are going to go off the cliff, and here's the reason why. if we go off the cliff, everybody's taxes go up automatically. then congress can come back in january and vote for a tax cut as opposed to tax increases. what do you think about that? >> one of the challenges, of course, is people see this happening. they realize the president has not been negotiating at all over the past three months. we learned days and weeks and months aft
and the third part is $1 trillion in obama's taxes. that's the obama care taxes they hid from you because they're all scheduled to come in after he got safely elected. >> let's go back to the bush-era tax cuts. for you, given your position, that's really what we want to focus on here. you make the point that democrats could have voted before when they had super majorities or big majoritiemajo and that's a fair point. but in part thanks to you, voting for tax increases is a political death...
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Dec 26, 2012
12/12
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. >> medical device makers face a 2.3% excise tax starting in 2013 under obama care. it's been a head wind for stocks like boston scientific and striker. any kind of reprieve on that rate is going to be a positive for the sector. >> reporter: the biggest story of the year will be the buildout of the state health exchanges. the federal government has to build 32 of them for states opting out, along with a complex central data hub to manage eligibility and subsidy payments. it will be little short of a miracle to get the online insurance marketplaces up and running smoothly by october 1st, when millions of uninsured americans are supposed to start signing up for obama care coverage. >> so what rule will have the biggest impact on the health care industry and who will be most affected? joining us now, max nissan, corporate strategy reporter with business insider. max, you have done some work on this. what do investors need to know from your point of view? >> from my point of view, what you have coming in 2013 and 2014 is a rollout of all of the really big provisions of t
. >> medical device makers face a 2.3% excise tax starting in 2013 under obama care. it's been a head wind for stocks like boston scientific and striker. any kind of reprieve on that rate is going to be a positive for the sector. >> reporter: the biggest story of the year will be the buildout of the state health exchanges. the federal government has to build 32 of them for states opting out, along with a complex central data hub to manage eligibility and subsidy payments. it will be...
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Dec 29, 2012
12/12
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again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive pay cut from medicare doctors, and elections of millions of americans to avoid paying the alternative minimum tax. an increase in the debt ceiling is not part of the discussion. that is significant development for house republicans who won any increase in the borrowing limit it accompanied by an equal amount in spending cuts taking the debt ceiling of the table making it much easier for the scaled-down version to be negotiated. from here senate leaders will try to secure an agreement by sunday morning. if so, democrats and republicans will try to sell its house and senate members. if they can do that the voting begins. there is some progress report this evening, though t
again, in an afternoon white house meeting president obama pitch a debt plan he had outlined a week ago, prevent a tax increase for income of less than to an effective thousand dollars per year and extend long-term unemployment benefits. senate leaders are using that framework to try to craft a proposal to pass both houses of congress. aides say it would likely increase the threshold for tax increases, reversing massive pay cut from medicare doctors, and elections of millions of americans to...
WHUT (Howard University Television)
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Dec 31, 2012
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that involves education, it involves tax policy, it involves job training. i think that is the core promise of obama's second term and that's where he's gonna have to put a lot of attention. >> in your book, our divided political heart, you talk about our historic attention to individual matters and on the other hand, the community, the group. do you see signs now in this climate that the gap between those two ideas can be narrowed? >> well, i think historically we always have as a country. we've always upheld both individualism and community as part of us, and i think what you've seen on the conservative politics, historically conservatives cared a lot about community as well as individualism and i think over the last two to four years, partly because of the tea party, you've had much more emphasis on the conservative side, on individualism, and i think since the election you've had sort of the compassionate conservatives that start to make a comeback, conservatives who say, "we do need this balance," and so i'm looking, i think as a country, we essentially
that involves education, it involves tax policy, it involves job training. i think that is the core promise of obama's second term and that's where he's gonna have to put a lot of attention. >> in your book, our divided political heart, you talk about our historic attention to individual matters and on the other hand, the community, the group. do you see signs now in this climate that the gap between those two ideas can be narrowed? >> well, i think historically we always have as a...
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Dec 29, 2012
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of course, democrats and president obama have called for tax rates to increase on those making $250,000 or less. republicans have said that's way too low. so they're thinking about potentially compromising on a rate that would be $400,000 or $500,000, but some republicans are saying they don't think that the tax rate should go up on anyone. so taxes still the major sticking point. right now the negotiations are going on the hill and there's a lot of optimism that came from the talks yesterday. of course, president obama hosted congressional leaders at the white house and they left that meeting and many said that it was constructive and they were optimistic that a deal could get done and i've been talking to my sources today and that same optimism isn't really present right now. there's more skepticism about a deal getting done and it is still very early in this process and this is a fluid situation so it could change on a dime, but that's what's going on behind the scenes and the white house monitoring clearly, what's happening. >> what's the president doing today? >> reporter: well, he
of course, democrats and president obama have called for tax rates to increase on those making $250,000 or less. republicans have said that's way too low. so they're thinking about potentially compromising on a rate that would be $400,000 or $500,000, but some republicans are saying they don't think that the tax rate should go up on anyone. so taxes still the major sticking point. right now the negotiations are going on the hill and there's a lot of optimism that came from the talks yesterday....
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will there be a deal or will the $500 billion in spending cuts and tax hikes actually kick in? right now, negotiations going on behind closed doors. this while president obama has joined leaders in it both parties to make the case to the american people by appearing on the morning public affairs programs this morning. both sides pitching their proposals. but at this late point, some say any chance that congress has of averting the fiscal cliff will take serious late night legislative wrangling. good morning. i'm eric shawn. i'm heather childers in for jamie colby. without a deal the countdown to 2013 also a countdown to smaller pay checks for nearly all americans as the fiscal cliff tax hikes are set to take a bigger bite and the military facing serious cutbacks along with other federal programs that millions of americans count on. >> ed henry live at the white house with the latest on the negotiations. ed, we are really getting down to the wire. what did the president say this morning and will that make a difference? >> good morning, eric. part of what he was doing was putting
will there be a deal or will the $500 billion in spending cuts and tax hikes actually kick in? right now, negotiations going on behind closed doors. this while president obama has joined leaders in it both parties to make the case to the american people by appearing on the morning public affairs programs this morning. both sides pitching their proposals. but at this late point, some say any chance that congress has of averting the fiscal cliff will take serious late night legislative wrangling....
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Dec 24, 2012
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president obama on friday saying he would accept a deal as long as it does not allow taxes to go up on middle class americans, as long as it extends unemployment insurance and lays the groundwork for deficit reduction in the future. so there's sort of scaling back their expectations. house speaker boehner tried to get an alternative bill passed through the house last week. that failed. the focus shifts to the senate. reid and mcconnell will really be charged with trying to hammer out the fine details of that deal that can make it through the senate and through the house so that is the challenge moving forward. of course, president obama here in hawaii for his christmas cray case. he played some golf over the weekend. also, attended the memorial service for the late senator daniel inouye. thomas, on a much lighter note, he asked me had i taken my flip flops out last hour. i hadn't but i did since my work is wrapping up for you guys, flip flops are out and i'm ready to join those folks on the beach behind me. >> i'm very proud of you. i don't want to jinx this by talking about when you m
president obama on friday saying he would accept a deal as long as it does not allow taxes to go up on middle class americans, as long as it extends unemployment insurance and lays the groundwork for deficit reduction in the future. so there's sort of scaling back their expectations. house speaker boehner tried to get an alternative bill passed through the house last week. that failed. the focus shifts to the senate. reid and mcconnell will really be charged with trying to hammer out the fine...
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Dec 26, 2012
12/12
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. >>> don't look now but obama care taxes may just be getting started. will congress take aim at employer-sponsored health insurance? we will look at that and aetna's ceo will weigh in. >>> it's getting messy with this storm making its way across the country. now it's on the east coast. we have the latest on the nor'easter and how it could affect your money. mandy is kind of to stick around, stay late for us. she'll be with me at the top of the hour. see you guys then. >> you twisted my arm. >>> meantime, some signs of life in the housing market. the s & p home price index rose 4.3% year over year, the biggest increase in two and a half years. the index was down .1% month over month but that is likely seasonal so let's ignore it. all in all, no doubt housing making a big recovery in much of america. >>> what can we expect from the housing market in 2013 is the question. we've got the chief economist with good news but also a couple of warnings. i really don't like to start on bad news. give us the good news first. >> thanks, mandy. here's the good news f
. >>> don't look now but obama care taxes may just be getting started. will congress take aim at employer-sponsored health insurance? we will look at that and aetna's ceo will weigh in. >>> it's getting messy with this storm making its way across the country. now it's on the east coast. we have the latest on the nor'easter and how it could affect your money. mandy is kind of to stick around, stay late for us. she'll be with me at the top of the hour. see you guys then....
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Dec 24, 2012
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there are eight days now until fhe fiscal cliff of big tax increases for most americans. and across-the-board spending cuts in the federal budget. even with congress adjourned and president obama out of town, erme lawmakers today talked about a last minute deal. >> my own belief is what we ought to do is take speaker boehner's last offer, the president's last offer, split the difference. that would be a package of about $2.6 trillion. you couple that with the 1.1 trillion already done. that would be close to the $4 trillion we need to stabilize the debt and begin to bring it down. >> i would vote for revenues, including tax rate hikes even ugh ih i don't like them, to get a-- to save the country from becoming greece, tax rate hikes are part of the solution driven by the president. but he's going to get tax rate hikes. ratey republican colleagues, if we can protect 99% of the american public from a tax hike that is not a tax increase in my books. >> glor: with christmas just two nuys away last minute gift buyers are out. today shopper track said raturday was the busiest da
there are eight days now until fhe fiscal cliff of big tax increases for most americans. and across-the-board spending cuts in the federal budget. even with congress adjourned and president obama out of town, erme lawmakers today talked about a last minute deal. >> my own belief is what we ought to do is take speaker boehner's last offer, the president's last offer, split the difference. that would be a package of about $2.6 trillion. you couple that with the 1.1 trillion already done....
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Dec 29, 2012
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that's what obama is doing now. he's not ceding power. he's letting them haggle over the threshold and he's ending this argument and this debate. >> all right, gentlemen. good discussion. great to have you both on. guys, stick around -- oh, they're coming back. that's right. they're part of the fiscal cliff power panel. >>> let's turn to the market sell-off. the dow going down 158 pointis and want you to see the after-market numbers and the futures, something called the futures continue to trade and they suggest that if the dow jones industrial average were to open right now it would be down 315 points. the nasdaq would be down a whopping 51 and the s&p 500 down 39. here now is larry glazer from the mayflower advisers and director at tjm institutional services. guys, when we open on monday, is it going to look that bad? jim? >> it depends on what happens. this is the way uncertainty works, but, you know, i thought for a month that one of two things was possible, one that we go over the cliff and the republicans have ground cover to be low
that's what obama is doing now. he's not ceding power. he's letting them haggle over the threshold and he's ending this argument and this debate. >> all right, gentlemen. good discussion. great to have you both on. guys, stick around -- oh, they're coming back. that's right. they're part of the fiscal cliff power panel. >>> let's turn to the market sell-off. the dow going down 158 pointis and want you to see the after-market numbers and the futures, something called the futures...
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Dec 30, 2012
12/12
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president obama did win 51% of the vote, almost certainly going to happen. as i say you can the problem is for each individual politician, less incentive to compromise, their constituency leans more heavily toward one side or the other. you lean it all up it does produce disfunction in a country still structurally closely divided. >> also still trying to climb its way out of a horrible recession and todd, so, what do you think the reaction on wall street tomorrow morning, the last trading day of the year is going to be? what do we brace ourselves for? that's what i worry about, the economy and the many people whose jobs are really hanging in the balance. >> that's right. we have the jobs report coming out just this friday as well. wall street, right now, short term it is going to be chaotic. we saw it in the final hour of trading on friday, odd number of "headline news" stories coming out of the white house based on a meeting that took place as well as the president's comments starting around 3:30. wall street does not like this, they clearly don't like the
president obama did win 51% of the vote, almost certainly going to happen. as i say you can the problem is for each individual politician, less incentive to compromise, their constituency leans more heavily toward one side or the other. you lean it all up it does produce disfunction in a country still structurally closely divided. >> also still trying to climb its way out of a horrible recession and todd, so, what do you think the reaction on wall street tomorrow morning, the last trading...
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Dec 31, 2012
12/12
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. >> i think it is obvious president obama wants us to go over the fiscal cliff. >> president obama blamed republicans. >> they say the biggest priority is making sure they deal with the deficit in a significant way. they are behaving in a way that they're only priority is that the tax breaks for the wealthiest americans are protected. blacks mitch mcconnell is vowing to find out. -- >> mitch mcconnell is vowing to find out. >> can the senate veteran help congress tumble to a deal on the last day? >> if we do go off the fiscal cliff, congress would be more likely to make a deal. members could claim they are cutting taxes. >> thank you. if america does fall off the fiscal cliff on the first of the year, maryland would be hit hard. hundreds of millions of dollars and tens of thousands of jobs lost. >> we have a lot of federal workers and businesses that rely on the federal government. many are watching the negotiations closely. if partisan politics prevail and they cannot reach a deal, americans in maryland will burden will -- will be burdened. legislativent of observances had a report about
. >> i think it is obvious president obama wants us to go over the fiscal cliff. >> president obama blamed republicans. >> they say the biggest priority is making sure they deal with the deficit in a significant way. they are behaving in a way that they're only priority is that the tax breaks for the wealthiest americans are protected. blacks mitch mcconnell is vowing to find out. -- >> mitch mcconnell is vowing to find out. >> can the senate veteran help congress...
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Dec 28, 2012
12/12
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the obama tax cuts. i'm calling it first. the obama tax cuts. he's going to write a tax cut bill, send it up to the hill, and they're going to pass it. >> expires on january 2nd. >> do we make them permanent, jimmy? 98% of them will be made permanent? >> i hope not. that is not the job of the government. the government's job is to raise taxes and to lower taxes when our economy needs it. that's what the senate does. john breaux, former senator john breaux from louisiana sat on the floor during the 2001 tax bill and said our job is to raise taxes when they need to be raised and lower them when they need to be lowered. that's the senate and the house's job. >> but, one man's -- is another man's -- if you look at the laugher curve you don't know when to raise and when to lower at this point. >> president obama kept bush's taxes in for two years. >> i know. >> but suddenly, you know, democrats like you love the 98%, and you hate the 2%. it's very weird. >> tell him, joe. >> don't hate the 2%. i'm not a self-
the obama tax cuts. i'm calling it first. the obama tax cuts. he's going to write a tax cut bill, send it up to the hill, and they're going to pass it. >> expires on january 2nd. >> do we make them permanent, jimmy? 98% of them will be made permanent? >> i hope not. that is not the job of the government. the government's job is to raise taxes and to lower taxes when our economy needs it. that's what the senate does. john breaux, former senator john breaux from louisiana sat on...
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Dec 30, 2012
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president obama wants higher taxes on the wealthy, stimulus spending, limited cuts to entitlements, and speaker boehner wants limited tax increases and keep his job. bob, which -- where do we go from here if a deal isn't hashed out in the next few hours? >> not necessarily in that order. i think the priorities for john boehner may have been turned around. jared is an old jazz fan, as am i, and he knows that miles davis had a song called "so what" and i think that might be the background music right now as all the posturing is going on in public. the simple fact of the matter is that they are setting up the process for working out a deal after they have scared the daylights out of everybody, and it would seem to me that to quote another song, which is "what are you going to be doing new year's eve," i think that we'll be finding that these people are still hard at it and maybe calling congress into session tomorrow night which is a really rotten way to end the year. >> jared, explain for our viewers what it really means to go over the cliff. >> well, first of all, as a former jazz bassis
president obama wants higher taxes on the wealthy, stimulus spending, limited cuts to entitlements, and speaker boehner wants limited tax increases and keep his job. bob, which -- where do we go from here if a deal isn't hashed out in the next few hours? >> not necessarily in that order. i think the priorities for john boehner may have been turned around. jared is an old jazz fan, as am i, and he knows that miles davis had a song called "so what" and i think that might be the...
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president obama campaigned in 2008 to keep 98% of the households with those tax cuts that were unaffordable. the republicans, 100% with the tax cuts that are unaffordable. the basic fact is, neither party is getting to the core of the matter, which is that we don't have the revenues needed to run the federal government. nobody is specifying the cuts that would make it possible because those cuts can't be made to the revenues that were set in the bush era. and this is the basic problem. it's been phony for a decade now. >> ed rendell. >> first of all, on the short term, the president did offer chain cpi, which is something his base hates. so he has put something on the table that was significant. now, could he deliver that with his base? >> didn't reid say it's not on the table? >> yes. >> every bipartisan proposal does include those changes. >> understand what we're talking about is a short-term deal. dr. sachs is right, we have to get to simpson-bowles -- and michael is right -- we have to get to the framework of simpson-bowles to really solve the debt crisis. we haven't even taken a shot
president obama campaigned in 2008 to keep 98% of the households with those tax cuts that were unaffordable. the republicans, 100% with the tax cuts that are unaffordable. the basic fact is, neither party is getting to the core of the matter, which is that we don't have the revenues needed to run the federal government. nobody is specifying the cuts that would make it possible because those cuts can't be made to the revenues that were set in the bush era. and this is the basic problem. it's...
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the bush era tax cuts will expire at the end of this year. obama was elected with a surplus of about 3 million votes. he won the election. he campaigned on this issue. again, the speaker can't take yes for an answer. the president has presented to him something that would prevent us from going over the cliff. it was in response to something the speaker gave to the president himself, but, again, i guess with the dysfunctional republican caucus in the house even the speaker can't tell what he's going to do because he backed off even his own proposal. mr. president, the house, we hear this so often, is controlled by the reap warnings and we acknowledge that. i would be most happy to move forward on something that senator mcconnell said they wouldn't filibuster over here that he would support and that boehner would support, if it were reasonable, but right now we haven't heard anything. i don't know, and it's none of my business, i guess, although i am very serious, if the speaker and the majority leader, the republican leader over here are even
the bush era tax cuts will expire at the end of this year. obama was elected with a surplus of about 3 million votes. he won the election. he campaigned on this issue. again, the speaker can't take yes for an answer. the president has presented to him something that would prevent us from going over the cliff. it was in response to something the speaker gave to the president himself, but, again, i guess with the dysfunctional republican caucus in the house even the speaker can't tell what he's...
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. >> president obama said he would push for a bill that would actually -- what it would do is include a renewal of the unemployment extension of the bush tax cuts for middle class americans who make less than $250,000 a year. some of us will be watching the ball drop in times square. we may hear the gauntlet drop on capitol hill. live in the newsroom. back to you. >> thank you, derek. >> we are also counting down to 2013. hundreds of thousands of people will bring in the new year in times square. organizers have been planning all year for the ball drop. wendy gi jlet has a look at the preparations. >> more than 2,000 pounds of confetti are in place. >> that's fantastic. >> ready to be thrown out by hand from buildings and times square at midnight. >> i have seen it on tv. looks like so much fun with the concerts and excitement in the air with people. >> it's magic. >> hundreds will come from all over the world. >> australia, canada, england. >> they will see the waterford crystal ball drop down a flagpole high above times square, lighting up the 2013 sign. this year's ball will have 2
. >> president obama said he would push for a bill that would actually -- what it would do is include a renewal of the unemployment extension of the bush tax cuts for middle class americans who make less than $250,000 a year. some of us will be watching the ball drop in times square. we may hear the gauntlet drop on capitol hill. live in the newsroom. back to you. >> thank you, derek. >> we are also counting down to 2013. hundreds of thousands of people will bring in the new...
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now, president obama, taking real will a tough line on that issue of taxes, it's the big sticking point, has been all along and past negotiations, of course president obama has been criticized by democrats who say that he's given in too quickly on the issue of taxes. of course he campaigned on the issue of raising taxes on wealthier americans. so this time he's not backing down. so these negotiations have really been centered, to some extent, on that issue of taxes. the president really using his bully pulpit to try to pressure congress, congressional republicans, making a number of public appearances, include, of course, during that exclusive interview on "meet the press" today when he said that republicans are to blame for this fiscal cliff stalemate. chris? >> kristin welker, thanks to you and thanks to nbc's kelly o'donnell on the hill as well. more ahead this hour as we continue to cover the ongoing negotiations on the hill. why a small deal now would set up a big fight later. more on secretary of state hillary clinton who has been hospitalize tonight with a blood clot. msnbc's liv
now, president obama, taking real will a tough line on that issue of taxes, it's the big sticking point, has been all along and past negotiations, of course president obama has been criticized by democrats who say that he's given in too quickly on the issue of taxes. of course he campaigned on the issue of raising taxes on wealthier americans. so this time he's not backing down. so these negotiations have really been centered, to some extent, on that issue of taxes. the president really using...
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. >>> nobody wants to pay higher taxes next year, but is it too late to stop it? they have just seven days to reach a deal on the fiscal cliff, and right now, president obama and house speaker boehner are still far apart on an agreement. they'll be back to work on thursday to try to prevent this looming financial disaster. >>> he played the grouchy oscar on the odd couple, and tonight, hollywood is remembering jack klugman, the versatile character actor died at his california home today. from 12 angry men, he had decades of memorable roles on film and tv. he was 90 years old. >>> well, it could be a christmas of extreme weather for much of the u.s. a major storm is developing and gaining strength in the south. and it could lead to tornado outbreak. there are also warnings of hail, high winds, and heavy rain across the region. stay with cnn for the very latest on the threat of this dangerous weather. and on a much more cheerful note, here comes santa and his reindeer. norad is watching the jolly fellow, as is the tradition since 1955, tracking st. nick as he delive
. >>> nobody wants to pay higher taxes next year, but is it too late to stop it? they have just seven days to reach a deal on the fiscal cliff, and right now, president obama and house speaker boehner are still far apart on an agreement. they'll be back to work on thursday to try to prevent this looming financial disaster. >>> he played the grouchy oscar on the odd couple, and tonight, hollywood is remembering jack klugman, the versatile character actor died at his california...
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he's going to get the tax threshold that he wants from republicans, and instead of giving them the cuts he had already promised boehner in the talks before, upwards of $1 trillion in social security and medicare, he can come back around and do that during the debt limit negotiations so he's essentially going to win out. remains to be seen whether or not that holds true and whether or not we get to your broader point, the country wants to go through another one of these in just a few months. >> luke russert, thank you. mike viqueira, kristin welker. help new year. >> happy new year. >>> when we come back, the latest on secretary of state hillary clinton's condition. we just learned doctors found that blood clot in the space between her brain and the skull, behind her right ear. doctors say it did not result in a stroke but nbc news' robert bazell will be here with us. you're watching msnbc, the place for politics. [ male announcer ] how can power consumption in china, impact wool exports from new zealand, textile production in spain, and the use of medical technology in the u.s.? at t. r
he's going to get the tax threshold that he wants from republicans, and instead of giving them the cuts he had already promised boehner in the talks before, upwards of $1 trillion in social security and medicare, he can come back around and do that during the debt limit negotiations so he's essentially going to win out. remains to be seen whether or not that holds true and whether or not we get to your broader point, the country wants to go through another one of these in just a few months....
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hike. >> the gallup poll shows 54% approve of how president obama is handling the vote, 26% approve of how speaker boehner is handling negotiations. 45% democratic leaders approve and 26% gop leaders approve of how they're handling the situation. chief washington correspondent and political writer for the "new york times," and robert reich. he's also the author of "beyond outrage." john, you can tell us all the maneuverings and meetings that have gone on all day between the house administration and their staff. just catch us up on everything, john, all the big news that happened today. >> right here, lawrence. nothing. nothing happened. but i have to say, though, i'm still with bill crystal and that 50% tooth fairy crowd in thinking the republican leadership in the senate and then, as a result of that, in the house are going to decide that they've already taken enough punishment. the punishment will get worse after january 1st and that ultimately they will accept, at least temporarily, perhaps not as a permanent solution, but at least temporarily, the deal that bill crystal says was
hike. >> the gallup poll shows 54% approve of how president obama is handling the vote, 26% approve of how speaker boehner is handling negotiations. 45% democratic leaders approve and 26% gop leaders approve of how they're handling the situation. chief washington correspondent and political writer for the "new york times," and robert reich. he's also the author of "beyond outrage." john, you can tell us all the maneuverings and meetings that have gone on all day...
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. >> reporter: when the clock strikes 2013, taxes go up on most americans. huge defense cuts kick in, which some republicans claim barack obama favors. >> it's obvious the president wants us to go over the fiscal cliff. >> reporter: on "meet the press," president obama blamed republicans. >> they say their biggest priority is dealing with the deficit, but the way they're behaving is their only priority is making sure taxes don't go up on the rich. >> reporter: the senate minority leader says -- >> i'm willing to get this done. but i need a dance partner. >> reporter: enter vice president joe biden, called by mcconnell. can the senate veteran help congress stumble to a deal on the last day? if not, and we do go off the cliff, congress could be more likely to make a deal and quickly, because then lawmakers could claim they voted to cut middle class taxes. i'm steve handlesman, news4, capitol hill. >> if nothing else, it looks like there will be a deal to keep the price of milk from skyrocketing. leaders have agreed to a one-year ex-tense of the 2008 farm bill
. >> reporter: when the clock strikes 2013, taxes go up on most americans. huge defense cuts kick in, which some republicans claim barack obama favors. >> it's obvious the president wants us to go over the fiscal cliff. >> reporter: on "meet the press," president obama blamed republicans. >> they say their biggest priority is dealing with the deficit, but the way they're behaving is their only priority is making sure taxes don't go up on the rich. >>...
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. >>> looking beyond the senate deal, president obama is warning republicans that if they want future spending cuts, they're going to have to provide more tax revenue as well. >> if republicans think that i will finish the job of deficit reduction through spending cuts alone -- and you hear that sometimes coming from them, that sort of after today we're just going to try to shove only spending cuts down -- well, shove spending cuts at us. if they think that's going to be the formula for how we solve this thing, then they've got another think coming. >> that midday news conference didn't go over well with a lot of republicans, and they said that the president's sometimes mocking tone, as they felt it was, could hurt the fiscal cliff deal in the house. >> as i sort out my impressions of the president's remarks as to whether to be angry or to saddened. we have the president of the united states go over and have a cheerleading ridiculing of republicans exercise. >> let's bring in democratic strategist and former edwards communications director chris ka fiance and republican strategist and
. >>> looking beyond the senate deal, president obama is warning republicans that if they want future spending cuts, they're going to have to provide more tax revenue as well. >> if republicans think that i will finish the job of deficit reduction through spending cuts alone -- and you hear that sometimes coming from them, that sort of after today we're just going to try to shove only spending cuts down -- well, shove spending cuts at us. if they think that's going to be the...
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especially after president obama won the election. senate democratic leadership aide tells me that will remains a 50/50 chance we will get a mini deal temporary extension of tax cuts under $250,000 before the january 1 deadline when we would go over the cliff. will are no assurances of that. a white house official told me as president obama prepares to fly back to conduct and participate in the negotiations at the end, there has been no progress over the holiday weekend. michelle, i'm afraid that people who are looking for a deal and looking for a deal by december 31, all hope is not lost. it is not looking good at the moment. >> let's go back to this hitting the debt ceiling on monday. we learned of this because treasury secretary tim good night mother sent a letter to the honorable harry reid majority leader. and that's where he outline it is fact that in three business days, the summit government is going to run out of borrowing capacity. john, if there were a treasurer in a business who went to their boss and said by the way, thre
especially after president obama won the election. senate democratic leadership aide tells me that will remains a 50/50 chance we will get a mini deal temporary extension of tax cuts under $250,000 before the january 1 deadline when we would go over the cliff. will are no assurances of that. a white house official told me as president obama prepares to fly back to conduct and participate in the negotiations at the end, there has been no progress over the holiday weekend. michelle, i'm afraid...
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president obama is coming back early as you mentioned, from his vacation in hawaii, but a senior white house official tells me they have seen no signs yet of progress toward a deal, so, everybody is going to have to wait for a couple of days. >> so, there's no indication at this point that there are any scheduled meetings tomorrow or anything to that effect, press conferences, news conferences to update the american people on what is going on in d.c.? >> everybody's got telephones, so, there's doubtless conversations going on. senate doesn't get back until late tomorrow. president gets back late tomorrow. the house is not back, but all of the leadership types, all the important players in any potential resolution of this are going to be in contact with one another and the likelihood that they will be in contact increases with every passing hour. >> john, stick around. i want to bring in anthony, who is on the desk here tonight. he was on the finance committee for mitt romney in his presidential bid. and what your sources are telling you is what in terms of if we reach a deal. >> i've t
president obama is coming back early as you mentioned, from his vacation in hawaii, but a senior white house official tells me they have seen no signs yet of progress toward a deal, so, everybody is going to have to wait for a couple of days. >> so, there's no indication at this point that there are any scheduled meetings tomorrow or anything to that effect, press conferences, news conferences to update the american people on what is going on in d.c.? >> everybody's got telephones,...
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president obama's offer to raise taxes on the top 2%, restore the bush era tax cuts for the rest of us. yes there is talk about putting in spending cuts, raising medicare eligibility and changing the inflation measure for social security but that is still the one on the table. then there is the alternatives. the house passing that existing senate bill that's out there that would raise taxes on the top 2%. that doesn't include sequestration though. sequestration could happen so they have to either let it happen or insert some kind of stop-gap in there. the other one of course is just literally to extend everything for another month. extend all the cuts to the end of january and simply delay sequestration and of course that is the least desirable but that may be in fact the one that happens right now. let's move on and show you the market is still not very worried about it. the five-month high on an intraday basis on friday but still staying within that trading range that has been in for a while now. not really busting out above 20. if we stayed out above 20 then you could have people sa
president obama's offer to raise taxes on the top 2%, restore the bush era tax cuts for the rest of us. yes there is talk about putting in spending cuts, raising medicare eligibility and changing the inflation measure for social security but that is still the one on the table. then there is the alternatives. the house passing that existing senate bill that's out there that would raise taxes on the top 2%. that doesn't include sequestration though. sequestration could happen so they have to...
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obama needs to be ronald reagan. would i vote for revenues, including tax rate hikes, even though i don't like them to save the country from becoming greece but i'm not going to set aside the 1.2 trillion in cuts. any hope of going over the fiscal cliff must start in the senate. not one democrat would support the idea that we could protect 99% of americans from a tax increase. boehner's plan b i thought made as soon as. to my republican kcolleagues, te the ronald reagan model is if you get 80% of what you want, that's a good day. i lime simpson-bowles. the president is going to get tax rate hikes. to my republican colleagues, if we can protect 99% of the public from a tax hike that, is not a tax increase in my book. chuck, maybe you and me and some other people in the senate can find a way to find this on the short term but on the long term there's not going to be a deal any time soon. >> you think we're going to go over the cliff? >> i think we're going to fall out of the fiscal tree. the big chance at the big deal
obama needs to be ronald reagan. would i vote for revenues, including tax rate hikes, even though i don't like them to save the country from becoming greece but i'm not going to set aside the 1.2 trillion in cuts. any hope of going over the fiscal cliff must start in the senate. not one democrat would support the idea that we could protect 99% of americans from a tax increase. boehner's plan b i thought made as soon as. to my republican kcolleagues, te the ronald reagan model is if you get 80%...
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. >>> nine days left before you face a new year with higher taxes. apparently a fiscal cliff solution is not wrapped up as a gift under your christmas tree. lawmakers are home for the holidays. house speaker john boehner is in ohio, president obama is in his native hawaii. you'll hear about a last ditch effort that may happen after the holiday. that story just a few moments away here as well. >>> a united states senator was arrested for drunk driving early sunday morning. idaho republican mike crapo was taken to jail in alexandria, virginia, after midnight. he was stopped for running a red light and charged with driving under the influence. senator crapo has issued an apology. he was released on $1,000 bond and he has a court date. >>> christmas, two days away, and for much of the country it's going to be a white one. heavy snowfall has blanketed several states, in the mountains of california up to five feet of snow is expected. snow is also falling back east as well. lake-effect snow has blanketed areas around cleveland and buffalo. high winds are t
. >>> nine days left before you face a new year with higher taxes. apparently a fiscal cliff solution is not wrapped up as a gift under your christmas tree. lawmakers are home for the holidays. house speaker john boehner is in ohio, president obama is in his native hawaii. you'll hear about a last ditch effort that may happen after the holiday. that story just a few moments away here as well. >>> a united states senator was arrested for drunk driving early sunday morning....
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no one wants taxes to go up on the middle class. i don't want them to go up on anybody. i'm not in the majority of the united states senate. he is the president of the united states. >> when i listen to the president i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at the bottom of the cliff. he gets all this additional tax revenue for new programs. he gets to cut the military which democrats have been calling for for years. and he gets to blame republicans for it. >> as a practical matter it's already too late for employers to accurately withhold taxes from january paychecks unless there is no change. so workers will feel immediately that 2% hike in the social security tax in those first january pay checks. bill? >> hampton, good to see you. merry christmas. we'll see you later. >> merry christmas to you. >> our next guest says he is unlikely to support any deal the president and speaker can come up with. republican senator joe walsh from illinois joins us right now. >> merry christmas. >> nice to see you. a
no one wants taxes to go up on the middle class. i don't want them to go up on anybody. i'm not in the majority of the united states senate. he is the president of the united states. >> when i listen to the president i think the president is eager to go over the cliff for political purposes. i think he sees a political victory at the bottom of the cliff. he gets all this additional tax revenue for new programs. he gets to cut the military which democrats have been calling for for years....
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you give the republicans something so that they can save face pup make them raise taxes. at the end of the day, nobody's happy. but stability occurs. and the thing goes forward. i am continually surprised by president obama that he lets it become these dreadful enervating dramas. >> could i just say that when ronald reagan was president and everything peggy just said is absolutely true-- >> i'm so glad. ( laughter ). >> when ronald reagan was president, grover norquist was in diapers and rush limbaugh was a disk jockey, i think, in st. louis. you have had a hermetically sealed culture grow up on the right in this country that as we saw during the last election, is removed from reality and is extreme in the most egregious way. >> and you don't have to go all the way-- >> it's much further than that. when bill clinton passed that budget deal, he didn't get a single republican vote. and there hasn't been a republican vote for tax increases in 20 years, and if the deal falls apart today-- which i think it probably will-- the reason is there will be no republican votes. even i
you give the republicans something so that they can save face pup make them raise taxes. at the end of the day, nobody's happy. but stability occurs. and the thing goes forward. i am continually surprised by president obama that he lets it become these dreadful enervating dramas. >> could i just say that when ronald reagan was president and everything peggy just said is absolutely true-- >> i'm so glad. ( laughter ). >> when ronald reagan was president, grover norquist was in...
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closer to possibly the fiscal cliff, the huge tax increases, spending cuts that could take effect in one week or so. brianna keeler is watching there in hawaii, joining us with the update. first of all, how is the president, how is the first family spending the holiday? >> presumably right now they are sleeping in, suzanne, because it is still very early here as you know. >> what time is it? >> we are expecting of course they'll have a christmas. let's see. 6:00 in the morning bright and early. we've been at it for a few hours. we expect them to have a nice christmas meal at the house they're renting. the white house chef is here. maybe we'll get details on what they are going to eat. there is nothing on the president's public schedule. he is frequently gone and visiting with troops in the past so we wouldn't be surprised if he did that again today. i will tell you that bo the dog is actually along for the ride here in hawaii and the white house released a video where bo just really kind of steals the show. let's look at a little of that. this is from the first lady going to the nati
closer to possibly the fiscal cliff, the huge tax increases, spending cuts that could take effect in one week or so. brianna keeler is watching there in hawaii, joining us with the update. first of all, how is the president, how is the first family spending the holiday? >> presumably right now they are sleeping in, suzanne, because it is still very early here as you know. >> what time is it? >> we are expecting of course they'll have a christmas. let's see. 6:00 in the morning...
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families and not know how to deal with the unfair debt tax. more american energy means more american jobs. energy projects in the united states we have held back by federal obstacle of all kinds. the keystone xl pipeline has been hanging in the balance because president obama has been unwilling to move forward on what should have been an easy decision. republicans hope to work across the aisle to solve these other challenges facing america. in the next few days leaders have important responsibilities to work together to do just that. unless congress and the president act immediately, every american will be forced to pay for the largest tax hike in our nation's history on january the first. the federal government and defense workers will undergo across the board budgetary cuts. these are the cuts that president obama promised during the campaign would never take effect. we can do this in a much smarter way. economists have continually warned that going over the fiscal cliff will lead to a devastating job losses at a time when american families
families and not know how to deal with the unfair debt tax. more american energy means more american jobs. energy projects in the united states we have held back by federal obstacle of all kinds. the keystone xl pipeline has been hanging in the balance because president obama has been unwilling to move forward on what should have been an easy decision. republicans hope to work across the aisle to solve these other challenges facing america. in the next few days leaders have important...
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president obama campaigned on 250 thousand dollars, and they are redefining what is middle class. now, someone who makes $300,000, that person is middle class, too, but that is fiscal cliff politics. you have the marginal rates. there are going to be some changes to the estate tax. the estate tax exemption is $5 million at a 30% rate, a 35% rate. that is going up to 40% at $5 million and will be indexed going forward, and there are some changes to dividends. taxes, and one thing that had a lot of people up in arms and took the white house a long time to convince them to go along is a delay in what is known as the sequestered. the spending cuts, the enforcement mechanisms. there is a delay in a sequestered. that means the automatic spending cuts you have heard about, they do not go into effect on january 1 as scheduled, but they do go into effect on march 3. that is paid for with something on retirement savings. there is a lot of detail. the important thing about that, and why a lot of democrats hate it is because it drops the next sequester cliff, if you will, right on top of anot
president obama campaigned on 250 thousand dollars, and they are redefining what is middle class. now, someone who makes $300,000, that person is middle class, too, but that is fiscal cliff politics. you have the marginal rates. there are going to be some changes to the estate tax. the estate tax exemption is $5 million at a 30% rate, a 35% rate. that is going up to 40% at $5 million and will be indexed going forward, and there are some changes to dividends. taxes, and one thing that had a lot...